Jim Cramer: Maybe Elon Musk Is Lowering the 'Hype' Around Battery Day
Tesla CEO Elon Musk has once again taken to Twitter ahead of Tesla's highly anticipated "Battery Day."
Musk tweeted that the company plans to boost battery cell purchases from suppliers and foresees “significant shortages in 2022 & beyond unless we also take action ourselves.”
The tweets come a day before Tesla’s widely anticipated “Battery Day” event Tuesday at which the company is expected to reveal new battery cell technology that would significantly boost battery life.
In his tweets, Musk said that notwithstanding the announcement, Tesla intends to increase purchases of battery cells from third-party suppliers. The announcement pertains more to long-term production, particularly for semi, cybertruck, and roadster vehicles, and won’t reach high-volume production until 2022, Musk tweeted.
“The bar has gotten very high,” Jim Cramer said in an earlier segment about Tesla. “If he does not show something that indicates he’s got a battery that is game-changing, then we’re going to suffer from the same overhang that we had when Tesla was supposed to be added to the S&P 500.”
So, is this just Musk realigning lofty expectations?
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